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The Economics of Outer Continental Shelf Leasing
Author(s) -
Kalter Robert J.,
Stevens Thomas H.,
Bloom Oren A.
Publication year - 1975
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.2307/1238500
Subject(s) - lease , investment (military) , continental shelf , revenue , resource (disambiguation) , natural resource economics , production (economics) , business , government (linguistics) , petroleum , public investment , process (computing) , economics , environmental economics , finance , microeconomics , oceanography , geology , computer science , computer network , paleontology , linguistics , philosophy , politics , political science , law , operating system
An analytical framework of the Outer Continental Shelf lands petroleum investment and production decision process is developed and utilized to evaluate public resource leasing policy alternatives. The impacts of alternative lease systems upon rates of production, investment levels, total resource recovery, and government revenue are presented and discussed. Trade‐offs implicit in various leasing strategies and the geophysical‐institutional‐engineering‐economic interactions which must be accounted for in public resource management are pointed out. Possible modifications in the current institutional system are suggested.